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SLX 4-hour RSI has already hit 22—do you dare to catch this flying knife?
$SLX /USDT - Go LONG
Trading plan:
Entry: 0.11622 – 0.11768
SL: 0.10782
TP1: 0.12380
TP2: 0.12836
TP3: 0.13521
Why focus on this setup?
- 1-hour RSI touched 22.94 on the 15-minute timeframe; extremely oversold in the extreme zone, with a very high rebound probability.
- The 4-hour EMA bullish alignment hasn’t been broken; the daily choppy range’s bottom at 0.116 support remains effective.
- The SL at 0.10782 is only 7.8% away; the risk-reward ratio is 1:2.5, suitable for a left-side position.
Discussion:
Will this 0.11695 LONG reach TP1 at 0.12380 first, or will it spike down to hit the 0.10782 stop-loss first?